Everest Industries has received a new GST order from the Deputy Commissioner CGST, Ranchi, Jharkhand on December 31, 2025, following a Show Cause Notice dated June 24, 2025. This development comes as a separate matter from the company's earlier GST order disclosure related to Balasore, Odisha.

GST Order Details from Ranchi Authority

The order pertains to the period from 2018-19 to 2022-23 and involves multiple GST violations. The Deputy Commissioner has imposed a total demand of ₹2.77 crores on the cement products company.

Alleged Violations and Contraventions

The GST order identifies several key violations during the assessment period:

Demand Reduction and Legal Framework

The original tax demand including interest has been reduced by ₹1.45 crores, bringing it down from ₹2.11 crores to ₹66.40 lakhs. The order has been issued under sections 74 and 50 of the Central GST Act, 2017, SGST Act, 2017, and IGST Act, 2017.

Company's Response Strategy

Everest Industries plans to contest the entire demand of ₹2.77 crores through an appellate process. The company's assessment indicates confidence in achieving a favorable outcome at the appellate level and does not expect any material financial impact from this order. The company has stated its intention to file an appeal against the complete demand including tax, interest, and penalty components.

Everest Industries Limited has received substantial relief from State Goods and Service Tax (SGST) authorities in Madhya Pradesh regarding a tax dispute that originated from a Show Cause Notice dated May 30, 2025. The company informed stock exchanges on December 30, 2025, about the favorable outcome following their response to the notice from the Deputy Commissioner of State Goods and Service Tax, Jabalpur Division, Madhya Pradesh.

Massive Reduction in Tax Demand

The SGST authorities in Jabalpur issued an order on December 29, 2025, at 2:51 p.m. (IST), providing exceptional relief to the company. The order resulted in a dramatic reduction of ₹8,26,07,908 from the original demand under the State GST provisions.

Complete Tax Demand Waiver

The most significant aspect of this order is the complete waiver of the tax demand component of ₹2,58,31,923. The company will only need to pay a minimal amount of ₹51,786, comprising interest of ₹1,786 and penalty of ₹50,000, representing a relief of over 99% from the original demand.

Company's Compliance Response

Everest Industries has confirmed that it will pay the residual amounts as per the order. Unlike previous cases where the company indicated intentions to contest remaining demands, the company appears to accept this minimal liability given the substantial relief received.

Regulatory Timeline and Background

This development follows the company's earlier intimation dated May 30, 2025, when it first informed exchanges about receiving the Show Cause Notice from the Madhya Pradesh SGST authorities. The company had responded to the SCN and participated in hearings before receiving the final favorable order. This regulatory disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The order was signed by Company Secretary & Compliance Officer Amruta Avasare on December 30, 2025, demonstrating the company's prompt compliance with disclosure requirements. This substantial relief showcases the effectiveness of the company's defense strategy in GST matters across different jurisdictions.